Shang Hai Zheng Quan Bao·2025-10-16 19:01Core Viewpoint - Fuyao Glass has reported record high performance for the third quarter, coinciding with a leadership transition as founder Cao Dewang steps down as chairman but remains involved in the company [2][4]. Group 1: Leadership Transition - Cao Dewang has resigned as chairman to focus on strategic optimization and sustainable development, while continuing as a board member and holding various leadership roles in subsidiaries [2][3]. - Cao Hui, son of Cao Dewang, has been elected as the new chairman and appointed as the legal representative of the company [2][3]. - Cao Dewang has been named the lifetime honorary chairman, continuing to contribute to the company's strategic planning and long-term development [2][3]. Group 2: Financial Performance - For the first nine months of the year, Fuyao Glass achieved revenue of 33.302 billion yuan, a year-on-year increase of 17.62%, and a net profit attributable to shareholders of 7.064 billion yuan, up 28.93% [4]. - In the third quarter alone, the company reported revenue of 11.855 billion yuan, a growth of 18.86%, and a net profit of 2.259 billion yuan, increasing by 14.09% [4]. - The growth in net profit is attributed to rapid revenue growth, quality improvement, and increased foreign exchange gains [4]. Group 3: Shareholder Changes - As of the end of the third quarter, there were notable changes in the shareholder structure, with Hong Kong Central Clearing Limited significantly increasing its holdings by 24.5111 million shares, moving to the second position among shareholders [4]. - Individual investors Bai Yongli and Li Haiqing also increased their stakes in the third quarter, with estimated investments exceeding 100 million yuan each [4].